- Binance’s IEO now listed on Poloniex exchange
- Poloniex exchange adds support for Matic network
- Matic network has been one of the most popular IEO launchers
Cryptocurrency News Today – Justin Sun owned Poloniex exchange has added new trading pairs. According to the report, Poloniex Exchange has added support for the Matic Network. The exchange does this as it adds several trading pairs including w.r.t BTC, Tron (TRX) and USDT (Tether).
In addition to this move, the exchange also revealed its plans to begin a bounty initiative to kick-start the listing of these trading pairs. Poloniex listed Binance’s IEO.
Poloniex Exchange Adds Support for Matic Network
The news was made public by tweet. The Poloniex Exchange said via its Twitter handle:
“We are giving away no less than 100,000 MATIC to the first 100 users who make deposits in $MATIC. Users can deposit now to stand a chance to win some $MATIC.”
In addition to the above statements, the exchange also started a trading competition for traders. The goal of the competition was to reward all traders from 2,100,000 $MATIC. It is understood that the Binance exchange, the biggest digital asset exchange accounts for over 85% of the overall trade volume of Matic.
Poloniex Exchange, which is backed by Tron’s Justin Sun, is now the first popular exchange to add the token to its trading list. The chance of adding more marginal trading pairs on Poloniex exchange is also on the positive side.
Matic Network Has Been One of the Most Popular IEO Launchers
This move is a big one. It shows the exchanges’ ambition to add more trading pairs for the benefit of users. The Matic Network has reportedly been a very popular IEO launcher in the most recent crypto markets. The price of the MATIC token went through a huge volatile period with several pumps and dumps in Q4 of last year. This has an ugly end to the year, and the developers of the coin alongside Binance’s management team have been accused of being behind this.
Currently, the price of Matic is trading at support and resistance at the lower side of the yearly range w.r.t. Bitcoin (BTC). Besides, the recent death cross that happened between the 50-day and 200-day EMAs (Exponential Moving Average) shows that there might be a further downfall for the digital asset’s price.
Furthermore, there’s a cluster of resistances at the 0.00000190 and 0.000000205 sats areas which if broken could force the price of the coin up to the 250 sats area which is a resistance. Finally, the altcoin market is highly correlated with Bitcoin, hence, whatever trend is established by Bitcoin will decide the direction of altcoins.